Common use of S Corporation Status Clause in Contracts

S Corporation Status. Target and Sellers shall not revoke Target’s election to be taxed as an S corporation within the meaning of Code Section 1361 and Section 1362. Target and Sellers shall not take or allow any action, other than the sale of Target’s stock pursuant to this Agreement, that would result in the termination of Target’s status as a validly electing S corporation within the meaning of Code Section 1361 and Section 1362.

S Corporation Status. Target and Sellers Seller shall not revoke Target’s election to be taxed as an S corporation within the meaning of Code Section 1361 and Section 1362. Target and Sellers Seller shall not take or allow any action, other than the sale of Target’s stock pursuant to this Agreement, that which would result in the termination of Target’s status as a validly electing S corporation within the meaning of Code Section 1361 and Section 1362.

S Corporation Status. Target Targets and Sellers shall will not revoke Target’s the Target Corporations' election to be taxed as an S corporation corporations within the meaning of Code Section Sections 1361 and Section 1362. The Target Corporations and Sellers shall will not take or allow any action, action other than the sale of Target’s the Target Corporations' stock pursuant to this Agreement, Agreement that would result in the termination of Target’s Target Corporations' status as a validly electing S corporation corporations within the meaning of Code Section Sections 1361 and Section 1362.

S Corporation Status. Target and Sellers shall not revoke Target’s election to be taxed as an S corporation within the meaning of Code Section 1361 and Section 1362. Target and Sellers shall not take or allow any action, other than the sale of Target’s stock pursuant to this Agreement, that which would result in the termination of Target’s status as a validly electing S corporation within the meaning of Code Section 1361 and Section 1362.